RWA Adoption Accelerates Across Trading and Finance
Real-world asset tokenization advanced across multiple blockchain ecosystems this week, as Hyperliquid's RWA markets overtook crypto-native trading, Solana attracted new institutional capital and Ondo Finance expanded access to tokenized securities.
Summary:
- Hyperliquid recorded its first week in which tokenized real-world assets generated most of the platform’s trading volume.
- Solana expanded its institutional RWA footprint after a $75 million Mubadala Capital fund was brought on-chain and weekly DEX volume reached $10.29 billion.
- Ondo Finance broadened its tokenized equity offering while expanding infrastructure for around-the-clock issuance and settlement.
Real-world asset tokenization gained further momentum during the past week as trading activity reached new highs, market infrastructure advanced toward commercial deployment and asset managers expanded the range of tokenized securities available to investors.
Tokenized Assets Become Hyperliquid’s Largest Market
Hyperliquid became one of the week’s biggest RWA stories after tokenized real-world assets overtook crypto-native perpetual contracts for the first time.
Single-stock products accounted for approximately 61% of RWA trading activity, making equities the platform’s fastest-growing asset class ahead of tokenized indices and commodities. According to ARK Invest’s Lorenzo Valente, Hyperliquid’s RWA market alone generated more perpetual trading volume than all other decentralized exchanges combined.
Circle CEO Jeremy Allaire said in X the milestone reflects a broader shift toward tokenized financial assets tied to the traditional economy rather than crypto-native instruments.
| Metric / Activity | Value |
|---|---|
| Weekly RWA volume | $25.1B |
| Share of platform volume | 52% |
| Total weekly volume | $48.2B |
Institutional Adoption Expands on Solana
Institutional adoption also accelerated across the Solana ecosystem.
Abu Dhabi-based Mubadala Capital, through KAIO, brought its Alternative Solutions Fund on-chain with $75 million in commitments from both traditional and digital asset investors, marking another step in the expansion of tokenized investment products on Solana.
The network also reached a trading milestone after weekly decentralized exchange volume climbed to approximately $10.3 billion, surpassing the NYSE American’s reported weekly equity trading volume while also exceeding activity on Ethereum and BNB Chain during the period.
READ MORE: Robinhood Chain’s Rapid Growth Reshapes DeFi Rankings
Meanwhile, Phantom Wallet integrated Robinhood Chain, allowing Solana users to access tokenized U.S. equities – including stocks such as Nvidia, Apple and Alphabet – through Robinhood’s Ethereum Layer-2 network. The integration expands interoperability between Solana-native wallets and tokenized securities issued on other blockchain ecosystems.
Ondo Broadens Tokenized Equity Access
Ondo Finance continued expanding its tokenized securities platform through new partnerships and infrastructure upgrades.
The company added additional U.S. equities to its offering, including companies tied to AI infrastructure, semiconductors and precious metals, while extending distribution through digital asset exchanges such as MEXC. Investors can access fractional ownership of the underlying shares while receiving dividend distributions through blockchain-based infrastructure backed by regulated custodians.
More Ondo Stocks just went 24/7.
Tokenized Apple, Microsoft, Meta, Corning, and Roundhill Memory ETF (DRAM) are now available for real 24/7 trading.
Trading overnight, weekends, and holidays. pic.twitter.com/6uA079EpdB
— Ondo Finance (@Ondo) July 24, 2026
The company also enabled 24/7 minting and redemption for tokenized U.S. stocks and ETFs and introduced shareholder voting functionality through Broadridge, extending blockchain-based ownership beyond simple price exposure.
Separately, Ondo expanded its international strategy through a partnership with Japan’s SBI Group, which aims to explore tokenized Japanese equities alongside settlement using SBI’s trust-backed yen stablecoin.
Treasury Products Continue to Anchor the Market
Despite rapid growth in tokenized equities, fixed-income assets remain the foundation of the sector.
The total value of on-chain real-world assets stands at approximately $34.7 billion, with tokenized U.S. Treasuries accounting for roughly $15.9 billion, making them the largest segment of the market. Tokenized private credit remains the second-largest category, while tokenized equities continue to post some of the fastest growth rates.
The week’s developments point to a broader expansion of tokenized markets across both decentralized trading venues and institutional investment platforms. As exchanges increase trading activity, asset managers bring traditional funds on-chain and issuers broaden access to tokenized securities, real-world assets continue moving beyond early pilot programs into wider commercial use.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
